PM Lee to Singaporeans: We need to remain OPEN and WELCOMING to foreigners
Posted by temasektimes on June 9, 2012
Speaking at the Economic Society of Singapore’s annual dinner on Friday evening, PM Lee said there is no country in the world where the population gets smaller and incomes rise at the same time which mandates that Singapore have a continued inflow of ‘talent’ for continued ‘growth’.
“We need to maintain that spirit of being exciting, of being welcoming, of being open and adventurous… at a time when there are constraints to our size… when our population is growing gradually less young and therefore perhaps less adventurous… that’s the challenge,” he added.
PM Lee also cautioned that the Singapore government must strike a balance between raising social spending and taxes.
“As we enhance our social safety nets, expenditure will inexorably rise, and revenue must keep up. Surely within the next 20 years, the government of the day will need new sources of revenue, which means raising taxes,” he said.